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The SonicWall information security part of this Dell division was spun out in November that year by Francisco Partners and Quest then underwent layoffs and a reorganisation. Francisco Partners will now let Clearview take Quest and run with it while it presumably looks for another “divisional carve-out transaction.” Some Quest history Francisco Partners has, in effect, sold at a profit - the Wall Street Journal reports the sales was for $5.4 billion, including debt. There’s going to be acquisitions with Clearlake providing cash. More to the point Prashant Mehrotra, partner, and Paul Huber, principal at Clearlake, said: “Now with significant scale and completely independent, Quest is strategically differentiated in the market as a buy-and-build platform and industry consolidator, and we’re thrilled to partner with Patrick, Carolyn and the management team to help Quest accelerate growth organically and through M&A.”
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Our new partnership with Clearlake will accelerate Quest’s momentum as a leader and innovator as we increase our investment pace in our core product roadmaps, cloud/SaaS offerings, and global presence.” Quest CEO Patrick Nicholls, who was appointed in May 2020 and stays on as CEO, said: “Quest has evolved to become a market leader in identity-centric cybersecurity, data intelligence, and IT operations management and I want to thank Francisco Partners for helping Quest realise this vision.